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bmt

Residential Loan Servicing Transfer Support

The servicing of your Mortgage and/or Home Equity Loans are being transferred, effective November 1, 2020. This means that after this date, your Mortgage Loan or Home Equity Loan payments will need to be sent to a new address.

Q&A

The transfer of servicing letter is in a regulatory required format. To assist you with this transition, we have listed the most commonly asked questions with answers.

  • Does BMT still own the Mortgage or Home Equity Loan?

    If the residential Mortgage is owned by Freddie Mac or Fannie Mae, BMT is the servicer and BMT Cenlar will be the new subservicer.  BMT will continue to own all non-Freddie Mac and non-Fannie Mae loans including Home Equity Loans and BMT is the servicer and BMT Cenlar will be the new subservicer.

  • Have the terms of my loan changed in anyway?

    No, the interest rate and terms of your Mortgage or Home Equity Loan remain the same

  • What is my new payment address for my Mortgages or Home Equity Loan Payment?

    Bryn Mawr Trust
    P. O. Box 11733
    Newark, NJ 07101-4733

  • I have automatic deduction of my payment setup coming from my checking/savings account, do I need to do anything?

    No, your automatic deduction payment will continue. However, please note that your 1st payment in November will be deducted on or about November 13, 2020. After this 1st automatic deduction draft, your regular selected auto debit drafting date will resume. Please make note of this one-time change to ensure enough funds are available in your account.

  • What if I have questions about my Mortgage or Home Equity Loan?

    Questions for your new servicer should be directed to:

     

    Toll Free Customer Service: 877.716.6759

     

    Customer Service by Mail:
    Bryn Mawr Trust
    PO Box 77404
    Ewing, NJ 08628

  • What will happen if I call the General BMT Customer Care Center?

    We will only be able to assist you with information on your loan prior to the November 1, 2020 transfer.  For best service and support on or after November 1, 2020, please call: 877. 716.6759, this service area will be able to assist you with all questions related to your Mortgage or Home Equity Loan.

  • Where can I find my new loan number for my Mortgage or Home Equity Loan?

    The new loan number is listed on the Notice of Transfer letter sent on October 16, 2020. It states: New Servicer Bryn Mawr Trust as of November 1, 2020 Loan Number: (Your NEW LOAN NUMBER HERE)

  • Will I continue to get a monthly statement?

    Yes, you will receive a monthly statement which will include a tear-off coupon. The statement will also include your new loan number and transaction history for the previous month as well as your escrow (if applicable) and loan balances.

  • I pay my loan payment through my BMT Online Banking or other third-party service; will I have to do anything different?

    Yes, you will have to set-up a new payment or notify your third-party service. It is your responsibility to update your current payment to the new payment instructions. Make sure you use your new loan number, found on the notification letter dated October 16, 2020, and change the payee to Bryn Mawr Trust, P.O. Box 11733, Newark, New Jersey 07101-4733.

  • I do not have ACH and would like to set that up, how do I do this?

    Complete the form included with the mailing and send it:

     

    Via Mail: Drafting Department, PO Box 77421, Ewing, NJ 08628.
    Via Fax: 609. 718.1735.

     

    On or after November 1, Access to the Residential Loan servicing Online Portal can be found on bmt.com under the Login Feature.  Among the services to select from,  a new Residential Loan Servicing Option will be available for your use. First time access will require users to establish a username and password. You will need to enter your loan information found on the transfer of services letter sent on October 16, 2020.

  • Why should I register for the new Residential Loan Serving portal on or after November 1, 2020?

    The Residential Loan servicing portal will provide you with a great user experience and the information you will need at your finger- tips including the ability to make a same day payment; some features include:

    • Main dashboard offering centralized view of a your BMT Mortgage and /or Home Equity Loan (s) for fast & easy access.
    • Detailed loan information available at a glance
    • Tiles at the top – quick navigation to different pages for easy access to loan information and tools:
      • Payment Screen offers Simplified Payments and Access to Loan Information
        • Make payments with same day online payment cancellations
        • Easier access for all payment functions from the main dashboard’s Payment Tile
        • Easier access and visibility to escrow account activity
        • Enhanced payment scenario calculators
        • Owning your Home Sooner
        • Paying a Lump Sum Amount
        • Estimating Payoff
        • Easier access to payment histories
        • Easier access to auto pay
        • Ability to add seasonal and international addresses
      • My Loan
      • My Home
      • My Neighborhood- offers Increased Self-Service Capabilities
        • Neighborhood Info –Estimate home value based on current home values, recent neighborhood home sales, and school ratings with geographic information details
      • Education
      • Goals establish goals –saving, building equity, managing a loan, how to stay on track with goals
    • Enhanced document upload capability
    • Enhanced scenario calculators
  • Are there any other ways to access my Mortgage or Home Equity Loan?

    Yes, there is a special automated telephone banking (IVR) available on or after November 1, 2020. You will be asked to authenticate with the loan number and your Social Security number. The IVR phone number is: 877. 716.6759

  • Do I have to notify my insurance company?

    Yes, you must notify your homeowners property insurance company and request your mortgagee clause be updated to reflect the following and be sure to include your new loan number:

     

    Bryn Mawr Trust
    c/o Central Loan Administration & Reporting, ISAOA, ATIMA
    P.O. Box 202028, Florence, SC 29502-2028
    Reference the new loan number

     

    By updating this clause, it should direct escrow bills to the new address above.

  • I have escrows, where do I send my homeowners property insurance bills?

    Bryn Mawr Trust
    c/o Central Loan Administration & Reporting
    P.O. Box 202028, Florence, SC 29502-2028

     

    Please remember to include your new loan account number on all correspondence.

  • I have escrows, where do I send my tax bills?

    Real Estate Tax Bills must be sent to:

     

    Bryn Mawr Trust
    1 Corelogic Drive
    Westlake, TX 76262

  • At year end will I get two statements?

    No, at year end, you will receive one statement of account reflecting all payments made to your account.

  • I used to see my Mortgage and/or Home Equity Loan in my BMT online banking and beginning November 1, 2020, they are no longer visible/available to me, what happened

    The new servicing platform used for the residential mortgage and home equity term loans is now separate from the core banking systems that connects to BMT Personal Online Banking. This means that Mortgages and Home Equity Loan accounts and corresponding balances and activity will no longer be available. You will no longer be able to make a transfer between your BMT checking and the loan. You will need to set up an ACH payment, setup an Online Bill Payment or mail via US postal.

  • I drop my payment off at my BMT bank branch, can I continue to do this?

    No, effective November 1, 2020, you will not be able to drop your Mortgage or Home Equity Loan payments at a BMT branch.   You must make arrangements (setup ACH, Bill Pay, or mail via US postal) for your Mortgage or Home Equity Loan Payment.

  • I did not read my mail and did not send my November Payment to the correct address, what will happen?

    BMT will forward any payments made in November to Bryn Mawr Trust in Pennsylvania to the Bryn Mawr Trust subservicer in New Jersey.  It is your responsibility to take the required actions to ensure payments on your Mortgage or Home Equity Loan are updated to the new payment address. Payments received beginning in December will be returned with a notification to make your payment to the new BMT Cenlar subservicer in New Jersey.

     

    You are protected under Federal law, during the 60-day period following the effective date of the transfer of the loan servicing (November 1, 2020), a loan payment received by your old servicer on or before its due date may not be treated by the new servicer as late, and a late fee may not be imposed on you.

  • My Mortgage and/or Home Equity loan is in collections, will this servicing transfer affect my Mortgage or Home Equity Loan in collections?

    BMT’s new subservicer will service all accounts, including those in collections.

  • I am interested in paying-off my Mortgage or Home Equity loan, where does the client get a payoff statement?

    877-7-PAYOFF (877.772.9633)

     

    Will be able to provide payoff information on or after November 1, 2020

  • I have other loans/lines of credit with BMT, what happens to these?

    Nothing changes with any other BMT Consumer Loan or Line of Credit. You will continue to pay Lines of Credit, Unsecured Personal Loans, and Auto Loans to the Pennsylvania address listed on your payment request.

Download the PDF below to setup your ACH

Check List

Auto Deduct Customers

Note different date, on or about November 13, of 1st time auto deduction payment

Bill Pay Customers

Bill Pay customers change your Bill Pay to new payment address and update the loan number

BMT customers who transfer their loan payment in online banking

BMT customers who transfer their loan payment in online banking will need to set-up a bill pay or ACH payment. If the transfer is automated in BMT’s Bill Pay, you will need to cancel the current Online Banking Auto Transfer.

If paying by mail

If paying by mail update your records to the new payment address:

 

Bryn Mawr Trust
P. O. Box 11733
Newark, NJ 07101-4733

Notify your homeowners insurance

Notify your homeowners insurance company and request your mortgagee clause be updated to reflect the following and be sure to include your new loan number:

 

Bryn Mawr Trust
c/o Central Loan Administration & Reporting, ISAOA, ATIMA
P.O. Box 202028, Florence, SC 29502-2028

 

Reference the new loan number

Setup access

Setup access to your new residential loan servicing portal on or after November 1, 2020.